![\"rachel](\"https:\/\/www.newsbeep.com\/uk\/wp-content\/uploads\/2026\/04\/0_Chancellor-Rachel-Reeves-To-Be-Questioned-By-Treasury-Committee-On-Autumn-Budget.jpg\")
<\/p>\nIt comes as the Government explores department spending cuts<\/p>\n
The Chancellor was asked about the triple lock.(Image: Getty Images)<\/p>\n
Chancellor Rachel Reeves has issued an update on the state pension triple lock.<\/p>\n
It comes amid increasing suggestions the lock may have to be altered or scrapped to save money.<\/p>\n
The policy guarantees an increase to the pension every year in line with whatever is highest out of inflation, wage growth or 2.5%.<\/p>\n
READ MORE: DVLA takes over-80s off the roads and cancels licences over major concern<\/a><\/p>\n Get breaking news on BirminghamLive WhatsApp<\/a><\/p>\n This ensures the state pension keeps pace with general living standards.<\/p>\n But it’s also extremely costly for the Government.<\/p>\n Some commentators and politicians believe the policy will be unsustainable in the years to come.<\/p>\n The triple lock has come back into focus with ministers stating department budgets may have to be slashed to allow for increases to defence spending.<\/p>\n Health Secretary Wes Streeting is pushing for cuts to welfare, which the Chancellor hasn’t ruled out.<\/p>\n She was also asked about the future of the triple lock and gave a firm response.<\/p>\n READ MORE: Face of Birmingham rape suspect still walking the streets two years on<\/a><\/p>\n